Uganda Microfinance Regulatory Authority (UMRA)

Following the recent concluded #GreenTalksUG series, Hosted by the Ministry of ICT and National Guidance with a key note speech from Ministry of Finance, Planning and Economic Development. we engaged media stakeholders on enhancing access to climate finance for social economic development and transformation and other key stakeholders like UNDP Uganda Certificates of #ESG and #Sustainability public compliance were awarded to Equity Bank Uganda, PostBank Uganda Ltd financial institutions and Uganda Microfinance Regulatory Authority (UMRA) as a regulator of micro finance institutions following a public opinion poll. These series focus on enhancing and creating more awareness about climate sustainable funding within Uganda's ecosystem. At GRO Foundation Uganda, we continue to engage key stakeholders on sustainability components within the #SDG agenda to achieve National Development Plans #NDP. ICRA RATING Kalikumutima & Co.Advocates

Earlier this week, the Credit Information Providers Association(CIPA), Financial Sector Deepening Uganda (FSDU) and UMRA came together to chart the future of Uganda’s Credit Information Sharing (CIS) Mechanism. They extended their appreciation to UMRA for our supervisory role in this Pilot CIS Project where 50 Tier IV Credit Providing Institutions were assessed, trained and onboarded onto the Credit Information Sharing ecosystem. #FinancialInclusion #CreditInformationSharing #Collaboration #Uganda Racheal Vanesa N. Muhwezi Edith Tusuubira

Yesterday on the 12/11/2024, FinFort Limited represented by our Chief Executive Daniel Bakaki received a recognition award from the Uganda Microfinance Regulatory Authority (UMRA) as member of the first cohort to embrace Credit Information Sharing mechanism in the Tier 4 sector space that transmits credit data to all credit reference bureaus licensed by Bank of Uganda. By joining this Credit Information Sharing Mechanism FinFort will gain access to a comprehensive database of credit information, allowing us to make data driven and informed lending decisions. Credit information sharing plays a significant role in the financial ecosystem, affecting consumers, lenders, and the broader economy. Understanding how this process works, the entities involved, and the benefits and challenges can empower your business and here is why you should indulge in this process: -          Facilitates Lending Decisions -         Promotes Financial Inclusion -         Enhances Credit Health Monitoring -         Informs Consumer Financial Behaviour -         Supports Economic Growth -         Regulatory Compliance   Overall, Credit Sharing is vital for a healthy financial ecosystem. It fosters transparency, promotes responsible lending, enables consumers to gain access to financial products that suit their needs and contributes to broader economic growth and stability. #financialinclusion Credit Information Providers Association Uganda (CIPA)

Earlier today UMRA held a readiness certificate ceremony where Mircofinance institutions licensed by UMRA were awarded a certificate of readiness to participate in Credit Information Sharing under Credit Information Providers Association (CIPA). Credit Information Sharing (CIS) is a process where credit providers such as banks, licensed Microfinance Banks, MNOs and trade credit suppliers submit information about their borrowers to licensed Credit Reference Bureaus (CRBs) so that it can be shared with other credit providers. CIPA will act as a customer data silo from all other CRBs through which we shall be able to share and access information. A few institutions given certificates were: 1. Glory SACCO 2. Development Finance Ltd 3. Bayfort Finance Services 4. Flow Uganda 5. Asa Mirco Finance Ltd 6. Jumo world Ltd Etc……. Edith Tusuubira Racheal Vanesa N. Muhwezi

Today, 12th November '24, ASA Uganda has been licensed by the regulator, Uganda Microfinance Regulatory Authority, (UMRA) to participate in Credit Information Sharing. This means that ASA Uganda can now join the Credit Information Providers Association (CIPA). Credit Information Sharing (CIS) is a process where credit providers such as banks, licensed Microfinance Banks, MNOs and trade credit suppliers submit information about their borrowers to licensed Credit Reference Bureaus (CRBs) so that it can be shared with other credit providers. CIPA will act as a customer data silo from all other CRBs too and through which we shall be able to share and access information. By joining this Credit Information Sharing Mechanism, ASA Uganda will gain access to a comprehensive database of credit information, allowing us to make informed lending decisions and effectively manage risk exposure. A big thanks to our regulator Uganda Microfinance Regulatory Authority (UMRA) and the Credit Information Providers Association Uganda (CIPA)

A national ID cannot be used as collateral ... Great initiative. Consumers be aware, alert & critical when accessing credit facilities. Many situations that force us in uninformed decisions & compromise. But leave us victims. Let's follow regulatory sanctioned procedures for quality, safe and fair facilities. Global Consumer Centre (Consent) Uganda Microfinance Regulatory Authority (UMRA)

A National ID cannot be used as collateral..

Our officers are conducting a series of dissemination activities around the country targeting POLICE officers and other stakeholders to sensitize them on Do’s and Don'ts regarding borrowing money. Our visit was prompted by reports that illegal money lenders were cheating members of the public including police officers. Officers having courtesy photos with Aswa West and Aswa East police commanders.

Earlier today, UMRA held a meeting with the World Bank together with Bank of Uganda to discuss an upcoming Financial Sector Crisis Simulation Exercise. This is to help prepare for any financial sector crisis and also ensure stability. Edith Tusuubira Racheal Vanesa N. Muhwezi

As we continue celebrating #WorldSavingDay, Save with only regulated SACCOs. Avoid Saving scheme that promise abnormal returns..